The marijuana stock market has been growing with a very large amount of propensity toward the future for quite some time now. Over the course of the past few years, we have seen not only the industry shift but the opinion of the public as well. This has led to one of the friendliest investor spaces that we have seen which has continued to make marijuana even more exciting. Within the market, there are a few companies that are completely changing what it means to be a traditional cannabis company. While they may not be the largest growers in the industry, they definitely are becoming some of the major movers and shakers.
Ionic Brands Corp. (IONC) (IONC.CN) is one of the leading cannabis holdings companies based out of the Washington market place. The company has been working to dominate in the western side of the nation by moving into markets such as Oregon and California as well. This has led to them being considered to be one of the top brands in the vaporizer industry within Washington. Additionally, they are currently established as the number one vaporizer brand in the state of Washington which is quite impressive. The company has been aiming at the high end luxury side of the market which has not nearly as many competitors as the general industry.
Recently, the company stated that they have completed a brokered offering of around 20,000 convertible debenture units which have led to gross proceeds of around $17.2 million. This private offering should help them to receive some much-needed capital to continue their operations into the future. The proceeds from the offering will be used in accordance to their plans to have more strategic acquisitions as well as general and corporate working capital.
This type of move in the marijuana industry is quite common as a way to raise a large amount of capital in a very quick manner. With this large influx of capital, it seems as though Ionic Brands Corp. could quickly move to the top of the market as they begin to put forth more innovation into the products that they produce.
Aurora Cannabis (NYSE:ACB) is considered to be one of the leaders in the growing market. The company has stated that they may be able to put out as much as 625,000 kilograms of marijuana per year when operating at full capacity by the end of 2020. With this amount of production, it should put Aurora Cannabis into the top sector when it comes to those who are growing the raw substance.
Additionally, the company has reported gross revenue growth of around 367% for year on year numbers to just shy of $80 million. The company has produced some losses on the books, but this is mostly due to the heavy capital it takes to build out production facilities. Once they reach their full capacity, this should become much less of a worry. All in all, investors should continue to keep an eye on Aurora Cannabis moving into the future.
Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Ionic Brands Corp (IONC), Midam has been paid $50,000 from Ionic Brands Corp (IONC) for a period from April 2, 2019 to May 2, 2019. We may buy or sell additional shares of (IONC) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Ionic Brands Corp (IONC).